2016 (10) TMI 1130

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..... s made by the assessee for KRVP - In absence of any cogent evidence to establish object of the parties to depress the assessable value, it is not possible to agree with the finding of the learned Commissioner (Appeals), who only passed his order on suspicion particularly on the premise of commonality of the directors - decided in favor of appellant. Even though Revenue says that both the author .....

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..... 1,094/- holding that M/s. KRVP Overseas Pvt. Ltd. [KRVP, in short] was related concern for which there was a depression to the assessable value of the job worked goods, Revenue says that learned Commissioner has rightly examined the relationship between the parties and finding commonality of the directors, he held in favour of Revenue. 2. In Revenue s appeal, Revenue is aggrieved for dropping o .....

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..... to ascertain depression of assessable value if any. The order appears to have been passed by learned Commissioner (Appeals) only on presumption without any objective analysis of the valuation of job worked goods made by the assessee for KRVP. In absence of any cogent evidence to establish object of the parties to depress the assessable value, it is not possible to agree with the finding of the le .....

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